Rambus

At Rambus, we create cutting-edge semiconductor and IP products, spanning memory and interfaces to security, smart sensors and lighting.

Home > Press Releases > Corporate > Financial > Page 23

Financial

Rambus Announces Third Quarter 2007 Earnings Call

LOS ALTOS, CALIFORNIA, UNITED STATES – 10/25/2007 – Rambus Inc. (NASDAQ:RMBS), one of the world’s premier technology licensing companies specializing in high-speed memory architectures, will hold its quarterly conference call on October 31, 2007 at 2:00 p.m. Pacific Time to discuss financial results for the third quarter of 2007.

This call will be webcast and can be accessed via Rambus’ web site at http://investor.rambus.com. A replay will be available following the call on Rambus’ Investor Relations web site or for one week at the following numbers: (888) 203-1112 (domestic) or (719) 457-0820 (international) with ID# 4789665.

About Rambus Inc.

Rambus is one of the world’s premier technology licensing companies specializing in the invention and design of high-speed memory architectures. Since its founding in 1990, the Company’s patented innovations, breakthrough technologies and renowned integration expertise have helped industry-leading chip and system companies bring superior products to market. Rambus’ technology and products solve customers’ most complex chip and system-level interface challenges enabling unprecedented performance in computing, communications and consumer electronics applications. Rambus licenses both its world-class patent portfolio as well as its family of leadership and industry-standard interface products. Headquartered in Los Altos, California, Rambus has regional offices in North Carolina, India, Germany, Japan, Korea and Taiwan. Additional information is available at www.rambus.com.

Rambus Regains Compliance with Nasdaq

LOS ALTOS, CALIFORNIA, UNITED STATES – 10/22/2007 – Rambus Inc. (NASDAQ:RMBS), one of the world’s premier technology licensing companies specializing in high-speed memory architectures, today announced it has received notification from the staff of the NASDAQ Stock Market LLC (the “Nasdaq”) stating the Company has regained compliance with all Nasdaq rules, including Rule 4310(c)(14). This determination is based on the Company having filed its Annual Report on Form 10-K for the year ended December 31, 2006 and its Quarterly Reports on Form 10-Q for the quarters ended June 30, 2006 and September 30, 2006 on September 14, 2007, and having filed its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2007 and June 30, 2007 on October 17, 2007. Consequently, the review by the Board of Directors of the Nasdaq of an earlier decision issued by the Nasdaq Listing and Hearing Review Council to suspend Rambus’ common stock has been closed and Rambus’ securities will continue to be listed on the Nasdaq.

Forward-Looking Statements

This release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 relating to the continued listing of Rambus’ common stock on the Nasdaq Global Select Market. Such forward-looking statements are based on current expectations, estimates and projections, management’s beliefs, and certain assumptions made by Rambus’ management, and there can be no assurance concerning the continued listing on the Nasdaq Global Select Market. Actual results may differ materially. Rambus’ business generally is subject to a number of risks which are described in Rambus’ periodic reports filed with the SEC. Rambus undertake no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.

About Rambus Inc.

Rambus is one of the world’s premier technology licensing companies specializing in the invention and design of high-speed chip architectures. Additional information is available at www.rambus.com.

Rambus Files First and Second Quarter 2007 Financial Statements

Company now current with SEC filings

LOS ALTOS, CALIFORNIA, UNITED STATES – 10/17/2007 – Rambus Inc. (NASDAQ:RMBS), one of the world’s premier technology licensing companies specializing in high-speed memory architectures, today announced it has filed with the Securities and Exchange Commission (SEC) its quarterly reports on Form 10-Q for the periods ended March 31, 2007 and June 30, 2007. With these filings and those previously filed on September 14, 2007, the Company is now current with its SEC filings and believes that it is in compliance with the NASDAQ’s continued listing requirements; confirmation from NASDAQ is pending. As previously announced, the Company’s filings were delayed as a result of the independent audit committee investigation relating to the Company’s historical stock option granting practices and related accounting.

Revenues for the first six months ended June 30, 2007 were $97.7 million, a 1% increase compared to revenues of $96.8 million for the same period in 2006. Net loss for the six months ended June 30, 2007 was $6.6 million, which included stock option investigation related expenses of $14.5 million and stock based compensation charges of $19.7 million. Net income for the six months ended 2006 was $6.8 million, which included stock option investigation related expenses of $1.9 million and stock based compensation charges of $20.4 million. Cash and Marketable Securities totaled $441.5 million as of June 30, 2007 as compared to $436.3 million as of December 31, 2006.

“The restatement put a heavy burden on the company, and we are very grateful for the patience shown by our stockholders as we diligently worked through the process necessary to complete these filings,” said Harold Hughes, president and chief executive officer at Rambus. “We are absolutely committed to operating to the highest standards of corporate governance and providing our stockholders with timely and transparent reports of our financial performance.”

About Rambus Inc.

Rambus is one of the world’s premier technology licensing companies specializing in the invention and design of high-speed chip architectures. Since its founding in 1990, the Company’s patented innovations, breakthrough technologies and renowned integration expertise have helped industry-leading chip and system companies bring superior products to market. Rambus’ technology and products solve customers’ most complex chip and system-level interface challenges enabling unprecedented performance in computing, communications and consumer electronics applications. Rambus licenses both its world-class patent portfolio as well as its family of leadership and industry-standard interface products. Headquartered in Los Altos, California, Rambus has regional offices in North Carolina, India, Germany, Japan, Korea and Taiwan. Additional information is available at www.rambus.com.

Forward-Looking Statements

This release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 relating to compliance with NASDAQ’s listing requirements. Such forward-looking statements are based on current expectations, estimates and projections, management’s beliefs, and certain assumptions made by the Company’s management, and there can be no assurance concerning the timing of receiving confirmation of continued listing on NASDAQ. Actual results may differ materially. Our business generally is subject to a number of risks which are described in our SEC filings including our Forms 10-K and 10-Q. We undertake no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

Rambus Files Fiscal 2006 Financial Statements

LOS ALTOS, CALIFORNIA, UNITED STATES – 09/14/2007 – Rambus Inc. (NASDAQ:RMBS), one of the world’s premier technology licensing companies specializing in high-speed memory architectures, today announced that it has filed with the Securities and Exchange Commission (SEC) its quarterly reports on Form 10-Q for the quarters ended June 30, 2006 and September 30, 2006, and its annual report on Form 10-K for the year ended December 31, 2006. The Company expects to file its quarterly reports on Form 10-Q for the quarters ended March 31, 2007 and June 30, 2007 as soon as practicable. Once it files the 2007 quarterly reports, the Company expects that it will be current in its SEC filings and expects to regain compliance with NASDAQ’s continued listing requirements.

“The completion of these filings is an important step forward,” said Harold Hughes, president and chief executive officer at Rambus. “We are committed to the best governance practices and providing the markets with full transparency of our accounting practices and controls.”

As previously announced, the Company’s filings were delayed as a result of the independent investigation relating to the Company’s historical stock option granting practices and related accounting. Upon completion of that investigation, the Company recorded a $169.4 million non-cash, pre-tax charge from 1997 through 2005.

As reported in the annual report on Form 10-K, the Company’s net loss for 2006 totaled $13.8 million. Loss before income taxes for this period was $25.7 million, which included $40.5 million of stock based compensation, $13.4 million in expenses related to the stock option investigation and $18.0 million of accruals for the proposed settlement of the class action suit related to the Company’s historical stock option granting practices.

Forward-Looking Statements

This release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 relating to the Company’s financial restatements, the timing of the filing of its financial reports, and compliance with NASDAQ’s listing requirements. Such forward-looking statements are based on current expectations, estimates and projections, management’s beliefs, and certain assumptions made by the Company’s management, and there can be no assurance concerning the timing of financial restatements and filing of its financial reports or the Company’s adequacy for continued listing on NASDAQ. Actual results may differ materially. Our business generally is subject to a number of risks which are described in our SEC filings including our Forms 10-K and 10-Q. We undertake no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

Nasdaq Board Grants Rambus Extension for Continued Listing

Company Receives Additional Nasdaq Notice of Non-Compliance

LOS ALTOS, CALIFORNIA, UNITED STATES – 08/22/2007 – Rambus Inc. (NASDAQ:RMBS), one of the world’s premier technology licensing companies specializing in high-speed memory architectures, today announced that on August 17, 2007, the Board of Directors of The NASDAQ Stock Market LLC (“Nasdaq Board”) informed the Company that it had granted the Company until October 17, 2007 to file all delinquent periodic reports necessary for Rambus to regain compliance with its Nasdaq listing requirements. If the Company has not regained compliance by October 10, 2007, the Nasdaq Board has directed the Nasdaq staff to discuss with the Company any reasons for such continued delay and provide an update to the Nasdaq Board.

Also on August 17, 2007, the Company received a notice of non-compliance from the Nasdaq staff in accordance with NASDAQ Marketplace Rule 4310(c)(14), due to the delay in the filing of its Quarterly Report on Form 10-Q for the quarter ended June 30, 2007. Previously on August 8, 2007, Rambus filed a Form 12(b)-25 with the Securities and Exchange Commission indicating that it would be unable to timely file its Form 10-Q for the quarter ended June 30, 2007.

Rambus intends to file its Form 10-K and required Forms 10-Q as soon as practicable following the completion of its restatement of prior financials to reflect the findings of the Audit Committee’s independent review of the Company’s historical stock option granting practices and related accounting. As previously disclosed, the Company estimates that the charge for all stock option related issues will be approximately $170 million to be booked as a non-cash, pre-tax charge from 1997 through 2005. A further approximately $20 million non-cash charge may be recognized between 2006 and 2009 as the older mis-priced options vest.

Forward-Looking Statements

This release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 relating to the Company’s financial restatements and the Audit Committee’s independent investigation. Such forward-looking statements are based on current expectations, estimates and projections, management’s beliefs, and certain assumptions made by the Company’s management, and there can be no assurance concerning the timing of financial restatements, their adequacy for continued listing on NASDAQ, or the outcome of the Audit Committee’s independent investigation. Actual results may differ materially. Our business generally is subject to a number of risks which are described in our SEC filings including our 10-K and 10-Qs. We undertake no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

Rambus Reports Second Quarter Revenue

Revenue of $47.5 million, down approximately 5% from first quarter of this year

LOS ALTOS, CALIFORNIA, UNITED STATES – 07/26/2007 – Rambus Inc. (NASDAQ:RMBS), one of the world’s premier technology licensing companies specializing in high-speed memory architectures, today reported preliminary revenue results for the second quarter of 2007. Revenue for the second quarter was $47.5 million, a decrease of approximately 5% from the first quarter of fiscal 2007.

Cash, cash equivalents and marketable securities as of June 30, 2007 were $442 million, a decrease of approximately $3 million from the first quarter of fiscal year 2007.

“We saw growing interest this quarter among customers for our XDR™ memory architecture,” said Harold Hughes, president and chief executive officer at Rambus. “We believe our patented innovations and products like the XDR architecture are vital to delivering the high bandwidth needed in next-generation consumer electronics and computing applications.”

As the restatement of the Company’s historical financial reports has not yet been completed, Rambus will not be releasing second quarter earnings today. In addition, Rambus does not expect to be in a position to file its Form 10-Q for the second quarter of fiscal 2007 by the August 9, 2007 filing deadline.

Rambus expects to file its Form 10-K for fiscal 2006 in the third quarter of fiscal 2007. Rambus is making every effort to file its delinquent annual and quarterly reports as soon as practicable.

Additionally, Rambus continues to evaluate its internal control over financial reporting as of December 31, 2006. Although Rambus has not yet completed all of its analysis on its internal control over financial reporting, it has determined that it is highly likely that Rambus had one or more material weakness in internal control over financial reporting as of December 31, 2006. A material weakness is a control deficiency, or a combination of control deficiencies, that result in more than a remote likelihood that a material misstatement of the annual or interim financial statements will not be prevented or detected.

The conference call discussing second quarter revenue results and further details on the Company’s financial restatement will be available live via the Rambus website (http://investor.rambus.com) at 2:00 p.m. Pacific Time today. The call will be webcast and can be accessed through the Rambus website. A replay will be available following the call on Rambus’ Investor Relations website or for one week at the following numbers: (888) 203-1112 (domestic) or (719) 457-0820 (international) with ID# 2759641.

Rambus logo